Cascend Securities: “Time To “Hold” Fitbit (FIT)”

May 17, 2018 - By Mona Holcomb

Fitbit, Inc. (NYSE:FIT) Logo

How Cascend Securities Currently Rates Fitbit (FIT)

Cascend Securities started its coverage on Fitbit (FIT), today 17 May. The firm finds the stock of Fitbit (FIT) attractive and has given it “Hold” rating.

The stock decreased 0.10% or $0.005 during the last trading session, reaching $5.195. About 1.91 million shares traded. Fitbit, Inc. (FIT) has declined 14.24% since May 17, 2017 and is downtrending. It has underperformed by 25.79% the S&P500.

Analysts await Fitbit, Inc. (NYSE:FIT) to report earnings on August, 1. They expect $-0.31 EPS, down 72.22 % or $0.13 from last year’s $-0.18 per share. After $-0.27 actual EPS reported by Fitbit, Inc. for the previous quarter, Wall Street now forecasts 14.81 % negative EPS growth.

Fitbit, Inc. designs and sells connected health and fitness tracking devices. The company has market cap of $1.25 billion. The firm offers Fitbit Zip, an entry-level wireless activity tracker that allows users to track daily activity statistics, such as steps, distance, calories burned, and active minutes; Fitbit One, a clippable wireless tracker, which tracks floors climbed and sleep, as well as daily steps, distance, calories burned, and active minutes; and Fitbit Flex 2, a water-resistant fitness wristband that tracks pool swims comprising laps, duration, and calories burned in the Fitbit App. It currently has negative earnings. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the userÂ’s phone and SmartTrack automatic exercise recognition; Fitbit Charge 2, a wireless heart rate and activity wristband; Fitbit Blaze, a smart fitness watch that provides multi-sport functionality, tracks outdoor cycling activity, and run cues; and Fitbit Surge, a fitness watch that features a GPS watch, heart rate tracker, activity tracker, and smartwatch.

More notable recent Fitbit, Inc. (NYSE:FIT) news were published by: Seekingalpha.com which released: “Fitbit Earnings Redux And Possible Future Developments” on May 05, 2018, also Investorplace.com with their article: “Fitbit Inc Will Get Boost From Google Deal, Other Catalysts” published on May 10, 2018, Seekingalpha.com published: “Tracking Fitbit’s Health” on May 03, 2018. More interesting news about Fitbit, Inc. (NYSE:FIT) were released by: Fool.com and their article: “Fitbit’s Growth Engines Are Warming Up” published on May 17, 2018 as well as Seekingalpha.com‘s news article titled: “Fitbit: Bullish But Not Buying Yet” with publication date: May 07, 2018.

Fitbit, Inc. (NYSE:FIT) Ratings Chart

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